Vedapuri Raghavan

Title
Professor
Email
Department
Accounting, Economics, Finance & Information Sciences
College
College of Business

Areas of Expertise

Sustainable Aviation Finance, Aircraft Finance and Leasing, International Aviation Finance, and Theoretical Application of Finance to the Airline Industry. 
Vedapuri Raghavan

Dr. Raghavan is a professor of Finance, a Fulbright Scholar and an International Society of Transport Aircraft University (ISTAT U) program coordinator within the David B. O'Maley College of Business at the Daytona Beach Campus where he teaches corporate finance and aviation finance courses. Raghavan received his Ph.D. from Washington State University.

Dr. Raghavan has served as a consultant to the Reserve Bank of India and published a report on India's corporate bond market developments. He has served as an external thesis examiner for doctoral dissertations in finance and reviewed textbooks in finance. Dr. Raghavan is an Accredited Senior Appraiser (ASA) with a Machinery and Technical Specialties/Aircraft designation and an ISTAT Appraiser candidate. He has been a guest speaker at the University College of Dublin (UCD), Ireland and is a visiting professor in Italy, China, Germany and Bahrain.

His research interests include sustainable aviation finance, aircraft finance and leasing, international aviation finance and theoretical finance application to the airline industry. Dr. Raghavan has published in various leading journals such as Electronic Commerce, Journal of Air Transportation Management, Transportation Research Record and Journal of International Finance and Economics. Raghavan is also a co-author of the leading textbook, "Aircraft Financing and Leasing: Tools for Success in Aircraft Acquisition and Management." The Wall Street Journal and NASA have both referenced his work.

  • Ph.D. - Doctor of Philosophy in Economics, Washington State University
  • CEUD 560: Aircraft Leasing and Financing
  • FIN 624: Aircraft Trans & Risk Modeling
  • FIN 434: Corporate Finance II
  • BA 901: Dissertation
  • EC 225: Engineering Economics
  • FIND 695C: Topics in Aircraft Finance III
  • Airport Finance and Administration (undergraduate)
  • Corporate Finance I (undergraduate)
  • Corporate Finance II (undergraduate)
  • Engineering Economics (undergraduate)
  • Advance Corporate Finance (graduate)
  • Aircraft Finance I (graduate)
  • Aircraft Finance II (graduate)
  • Aircraft Finance III (graduate)
  • Aircraft Funding Legal & Financial Analysis (graduate)
  • Aircraft Transaction & Risk Modeling (graduate)
  • International Aviation Finance (graduate)
  • Managerial Finance (graduate)
  • Aircraft Appraisal (professional certificate course)
  • Aircraft Leasing and Financing (professional certificate course)

Books

·       Vitaly S. Guzhva, Sunder Raghavan and Damon Agostino (2018). Aircraft Leasing and Financing: Tools for Success in International Aircraft Acquisition and Management, Elsevier.

·       Vitaly S. Guzhva, Sunder Raghavan and Damon Agostino (2024). Aircraft Leasing and Financing: Tools for Success in International Aircraft Acquisition and Management Second Edition, Elsevier.

  • Raghavan, S. (2009). Case Studies in Corporate Finance with Application to Aviation and Aerospace Industries Linus publication, New York.

Journal Articles

  • Raghavan, S. (2009). Advanced Case Studies in Corporate Finance with Application to Aviation and Aerospace Industries. Linus publication, New York. 
  • Giovanelli, L., Rotondo, F., Raghavan, S. (2024). Impact of Size and Ownership on the Financial Performance of European Commercial Airports. Transportation Research Record.
  • Raghavan, S., (2023). Metrics for Sustainable Aviation Finance. Journal of International Finance and Economics, 23(1), 129-141
  • Choi, Y., Toppo, I., Raghavan, V. S. (2022). Does Fintech Payment Promote Airline Performance? Evidence
    from wechat and alipay for a US-China route. Journal of International Finance and Economics, Volume 22,
    Issue 1, p76-88. http://dx.doi.org/10.18374/JIFE-22-1.
  • Raghavan, S. & Yu, C. (2021). Evaluating financial performance of commercial service airports in the United
    States, Journal of Air Transport Management, Volume 96, 102111.  https://doi.org/10.1016/j.jairtraman.2021.
  • Raghavan, S., Canella, A., & Sharma, M., & Mau, R. (2020). Unlocking the Final Code to Managing Financial Risk in the Airline Industry. Journal of International Finance and Economics, 20(4), 5-12.  http://dx.doi.org/10.18374/JIFE-20-4.1  
  • Raghavan, S., & Churchill, S. (2019). Islamic Finance as an Alternative Funding Source for Airlines. Journal of International Finance and Economics, 19(3), 17-26. http://dx.doi.org/10.18374/JIFE-19-3.2
  • Raghavan, S., & Zarb, B (2018). Implications of the New Accounting Changes for Aircraft Leasing. Journal of International Finance and Economics, 18(2), 49-58. http://dx.doi.org/10.18374/JIFE-18-2.5
  • Adhikari, H., Raghavan, S., & Sah, N. (2018). Do Older CEOs Fly their Firms Higher? Evidence from the Airline Industry. Journal of International Finance and Economics, 18(1), 71-80. 
  • Raghavan, S. (2017). Modeling an Aircraft Lease Transaction for a Lessor. Journal of International Finance and Economics, 17(2), 15-20.
  • Gokhale, J., & Raghavan, S. (2015). Effect of Weather Delays on Shareholder Value: Evidence from the Airline Industry. Journal of International Finance and Economics, 15(2), 67-72
  • Gokhale, J., & Raghavan, Sunder, R., & Tremblay, Victor J. (2014). The Effect on Stockholder’s Wealth on Critical Systems Failure and Remedy: The Boeing 787 Case. Journal of International Finance and Economics, 14(2), 213-220. 
  • Raghavan, S. (2013). Consolidation in the Airline Industry: The Delta-Northwest Merger. Journal of International Finance and Economics, 13(2), 91-98.
  • Raghavan, S., & Sarwono, D. (2012). Corporate bond market in India: lessons from abroad and road ahead. International Journal of Trade, Economics and Finance, 3(2), 120.
  • Raghavan, S. (2012) Financial Health and Airline Safety, Review of Business Research, Volume 12(5)
  • Kornecki, L., & Raghavan, V. (2011). Inward FDI stock and growth in Central and Eastern Europe. The international trade journal, 25(5), 539-557.
  • Kornecki, L., & Raghavan, S. (2008). The Impact of   Inward FDI Stock on GDP Growth: An Empirical Evidence from Central and Eastern Europe. American Journal of Business Research, 1(1), 41-58.
  • Kornecki, L., & Raghavan, S. (2008).The Impact of Foreign Direct Investment on Economic Growth: An Empirical Analysis of Central and Eastern European Countries. European Journal of Management, 8(4), 141-145.
  • Raghavan, S & Rhoades, D. (2008). Core Competencies, Competitive Advantage and Outsourcing in the Airline Industry. International Journal of Strategic Management, 8(2), 125-134.
  • Kornecki, L., and Raghavan, S. (2007). FDI stimulates Economic Growth: Empirical Evidence from CEE. ORGMASZ Publishing Company, Warszawa, Poland.
  • Saggar, S., Raghavan, S. (2007) Corporate Investments in India: A Panel Data Journal of International Finance and Economics, 5(1), 59-68.
  • Raghavan, S. (2007). Evolution of Corporate Governance in the Airline Industry. Review of Business Research, 8(3), 165-169.
  • Raghavan, S. (2006). Fuel Price Hedging in the Airline Industry. Review of Business Research, 4(2), 177-182.
  • Raghavan, S., Raghavan, J. (2005). Application of Core theory to the U.S. Airline Industry. Journal of the Academy of Business and Economics, 5(2), 116 – 125.
  • Raghavan, S., & Rhoades, D. (2005). Revisiting the relationship between profitability and air carrier safety in the US airline industry. Journal of Air Transport Management, 11(4), 283-290.
  • Nyshadham, E. A., & Raghavan, S. (2001). The failure of electronic markets in the air cargo industry: a core theory explanation. Electronic Markets, 11(4), 246-249.
  • Saggar, M. K., & Raghavan, V. S. (1989). Planning for Agricultural Transformation: Review and Prospects for Indian Agriculture'. Reserve Bank of India Occasional Papers, 10(4), 401-34.


Funded Research

​Principal Investigator, Project: Sustainable Aviation Finance (2022-2023), Joseph Martin Professorship in Aviation Business Administration ($5,000)

  • Faculty Advisor, OCOB Philanthropy Council: Student Project on Sustainable Aviation Finance ($2,000)
  • Principal Investigator, Project: Update Video Lectures for ISTAT courses (2019-2020) Sponsor: ISTAT Foundation ($31,050)
  • Principal Investigator, Project: Course Development for ISTAT (2014-2016), Sponsor: ISTAT Foundation ($100,000)
  • Principal Investigator, Project: Study Corporate Bond Markets in India (2010-2014), Sponsor: Reserve Bank of India (Central Bank), (Rs.1,00,000)
  • Principal Investigator, Project: Develop a Graduate Course in International Finance with Application to Aviation and Aerospace Industries (2010-2011) ($5,000)
  • Principal Investigator, Project: Applied Case Study Book for Engineering Economics (2007-2008), Sponsor: Boeing ($13,000)
  • ISTAT University (ISTAT U) Program Coordinator (2016 -present). Scheduling, coordinating, revising, and teaching Aircraft Leasing and Finance Specialty Courses on the Daytona Beach campus and Online through ERAU Worldwide campus. Working with ISTAT to ensure the most current course material is offered and continue setting new standards for the Aircraft Leasing Industry. Incorporating state of the art interactive industry expert videos. Coordinating and facilitating industry mentorship program and scholarships for the students. Working with aircraft and engine manufacturers, lessors, aircraft value publishers, and industry trade organizations. Overseeing budgetary expenditures as related to the ISTAT U funding. Coordinating with the College's Business Manager on budgeting and allocating funds relevant to the Initiative. Representing the College in the areas related to aircraft leasing and financing.
  • Lead Instructor for American Society of Aircraft Appraisers (ASA) professional courses (2016 -2017).
  • Consultant, Reserve Bank of India, Published white paper on Corporate Debt Markets in India (2010 -2014).
  • Research Officer, Reserve Bank of India (India’s Central Bank) (1988 -1990).

Accredited Senior Appraiser (ASA), Machinery and Technical Specialties/Aircraft, American Society of Appraisers (2016 – present)

  • Fulbright Specialist grant to teach and conduct research on Aircraft Leasing and Financing at University of Applied Sciences, Worms, Germany (2025)
  • Joseph. R. Martin Distinguished Professor of Aviation Business (2022-2023)
  • Fulbright Scholar to Bahrain to study Islamic Finance in Aviation (2018-2019)
  • Joseph. R. Martin Distinguished Professor of Aviation Business (2018-2019)
  • Christian and Lou Seno Distinguished Professor of Aviation Finance (2015-2017)